20 cities with households of annual income over $20,000

20 cities with households of annual income over $20,000

The developing-region cities of the City 600 will be home to an estimated 235 million middle-class households earning more than $20,000 a year at purchasing power parity (PPP) by 2025, points out a McKinsey study which maps the economic power of cities.

Even at the higher end of the middle-class segment, there will be more households in emerging-market cities than in developed ones.

MGI finds that population in the City 600 (600 urban centers generate about 60 percent of global GDP) will grow an estimated 1.6 times faster than the population of the world as a whole.

By 2025, the City 600 will be home to an estimated 310 million more people of working age - and account for almost 35 percent of the expansion of the potential global workforce.

Almost all of this increase is likely to be in the cities of emerging-markets - and two-thirds in the leading cities of China and India.

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Image: The Brooklyn Bridge (R) and Manhattan Bridge is seen from the 90th story of One World Trade Center in New York.Photographs: Lucas Jackson /Reuters.

20 cities with households of annual income over $20,000

Tokyo, the capital of Japan is hailed as one of the three 'command centers' for the world economy.

The city is an alpha+ world city, listed by the GaWC's 2008 inventory and ranked fourth among global cities by A.T. Kearney's 2012 Global Cities Index. In 2012 Tokyo was named the most expensive city for expatriates.

20 cities with households of annual income over $20,000

Mumbai is the commercial and entertainment capital of India, it is also one of the world's top 10 centres of commerce in terms of global financial flow generating 5 per cent of India's GDP and accounting for 25 per cent of industrial output.